Decrease in Australia s gender pay gap partly due to more men in lower-paid work msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Late Payments Strain WA Small Businesses in Pandemic
Late payments are adding to the financial strain on West Australian small businesses from the COVID-19 pandemic, a report has found.
The Bankwest Curtin Economic Centre report found more than a third of small businesses reported revenue losses last year.
But optimism is considerably higher for 2021, with roughly the same number of firms expecting revenue to increase as the state’s economic recovery continues.
BCEC director Alan Duncan says almost a quarter of small businesses had reported receiving payments from larger firms that were at least 30 days late, placing additional stress on owners and restricting their ability to operate.
Deloitte partner Chris Richardson said while bigger was not necessarily better when it came to population, skilled migration could deliver both productivity and workforce participation benefits. Highly skilled young adults provide wider benefits . paying tax is just one of them, he said. Australia has come through COVID with relatively flying colours – it s quite possible there are a lot of highly educated people who want to move here.
Despite the significant demand, he suspects there will be sectoral pain for industries due to the lower population.
Loading Pretty much every business sells – directly or indirectly – to the population. And it’s most challenging for those industries whose market size is determined by the increase in population. Their pain will linger, he said.